Fergus Wilson, the former mathematics teacher dubbed Britain’s buy-to-let “King,” says he’s selling 700 rental properties before interest rate rises bring “slaughter” to landlords in the U.K. housing market.
Wilson, who together with his wife Judith rank among the 1,000 wealthiest Britons according to this year’s Sunday Times Rich List, said it was inevitable that interest rates would rise from a historic low, pummeling rental landlords.
“You’ve got a lot of people who have taken out a mortgage and are right up to their throats” in debt, said Wilson as he settled into a black armchair at a hotel in Maidstone, south- eastern England. “As soon as rates go up, they’re going to be slaughtered.”
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